Innergex will pay about C$22 million ($21.8 million) for
the Wildmare Wind Energy Project, Vancouver-based Finavera said
in a statement today. The transaction is expected to close
within 60 days.

The project includes a 25-year power-purchase agreement
with British Columbia Hydro & Power Authority and is in the
advanced stages of permitting, according to the statement.

“This transaction illustrates the significant asset value
Finavera has created for shareholders and provides a strong
return on our investment in the development of wind energy for
British Columbia,” Finavera Chief Executive Officer Jason Bak
said in the statement.